Adyen Reports Strong Q1 2024 Growth with €297.8 Billion Processed Volume

Adyen Reports Strong Q1 2024 Growth with €297.8 Billion Processed Volume

(IN BRIEF) Adyen (AMS: ADYEN) announced robust growth in its Q1 2024 business update, driven by a 46% year-over-year increase in processed volume, totaling €297.8 billion, attributed to volume acceleration with existing enterprise customers. Net revenue also saw a significant uptick, reaching €438.0 million, a 21% year-over-year rise. The company welcomed 26 new team members, with a focus on commercial and tech roles, consistent with its hiring strategy. Adyen’s financial technology platform continues to be the choice for leading companies globally, providing end-to-end payments capabilities and financial products. The unaudited Q1 business update emphasizes Adyen’s commitment to delivering innovative solutions and driving growth across its single platform.

(PRESS RELEASE) AMSTERDAM, 25-Apr-2024 — /EuropaWire/ — Adyen (AMS: ADYEN) achieved further growth across its single platform, driven by continued expansion with existing customers.

Q1 2024 Figures
Processed volume was €297.8 billion, up 46% YOY, as a result of volume acceleration with existing enterprise customers. Net revenue was €438.0 million in Q1, up 21% YOY. On a constant currency basis, net revenue growth would have been unchanged. The company onboarded 26 net-new joiners. Consistent with the company’s previously communicated hiring strategy, over half of these team members filled commercial roles, while the rest joined the tech domain.

Quarterly Business Update
This press release highlights key information and results from Q1 2024. You can find the full Q1 2024 Business Update here.

The information in this press release and the Q1 Business Update is unaudited.

Business Update Webcast
Today, at 3 PM CEST, Adyen will host a Business Update call with our CFO, Ethan Tandowsky. You can access the livestream here. An audio recording will be made available shortly after on the same webpage.

About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.

Important Legal Information
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Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. (“Adyen”) regarding future events, many of which are by nature inherently uncertain and beyond Adyen’s control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.

Adyen does not consent to, authorize, endorse, support, encourage, or participate in, directly or indirectly, unsponsored depository receipt (“DR”) programs regarding Adyen securities. Adyen specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored DR program.

Media Contact:

press@adyen.com

SOURCE: Adyen NV